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tv   [untitled]    December 27, 2012 11:30pm-12:00am PST

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green. and then . what is phase two? >> phase -- yes it's in the orange but that dynamic may need updating and my apologizeys for that. as part of the initial phase we can deliver one of the two cranes in slip way four which don't have the fund do both and so there is that light blue which, is in a crane that relocating at the east end of building 49 and that is the third alternate and phase two is the triangle around the building 110. what is alternative a.
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>> well ant they the different if you cannot fund phase a then it becomes phase two? right. and i may need to revise that slightly but that is the direction that we are headings and it seems to get support and may be they are as confused as you were but --. >> okay. well, hope ihopefully, we can get as much time as we can with what we have and hope for future funding but thank you so much and this is a great presentation and we are really happy about all of the oche space projects that we are working on and the wonderful park findings. >> actually i had a couple of questions do we have any estimate of the costs you know you showed us the signage but i think that is along the pathway? >> yes the cost that we have for that is $1.1 million for the sign anal. and is that for all
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of the signage from mission bay-yeah from mission creek to wrecken park and in a way that wrecken park and m ta can take our design and use it for portions that are off of our jurisdiction and. >> and then will there be other signage off of there and we are trying to dome develop a consistent palette in the blue and green design palettes and we are come up with boaty blocks that we use at hansen parks with all of the seating parks ton and retaining walls and have some consistency on the park sign anal where the name of the park is recessed in the concrete paul wall and so site furnishings as well as benches and water founds and so there is consistency. >> and pathways? not at this time because
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much of the pathway runs along existing streets and at this time we are not looking at that but pathway materials we have found this new product that we think we will be using in other parks as well and so. >> and to the point earlier there was a park we went to and there was a park i have got out of town visitor and we want to go to that park. hairing ton. >> i hope you didn't take anyone to crane co, no, harrison park and it's already having the desired effect of becoming a disintegrate nation so thank you. >> item 11 a informational
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presentation under proposed infrais it true tour financial district over port property. >> good evening commissioners brad ben son special projects manager elane forbs and i will be (ing this and this is a a port structure financing district and we have been legislationing and sure some time for this and but i wanted to come to the mic first because in 2005 when monique invited me down to the port, we were struggling with the port's capital plan and capital needs we were engaged in a conferring with michael cohen who was then working at the office of economic and workforce
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development at financing tools that could help us revitalize the water front. and michael cohen mentioned that he was in conversation with david mad way about different option whether redevelopment would be an appropriate tool along the water front or if there was another option and david mad way who's here, is former general counsel of the san francisco redevelopment agency and now works at shepherdmony and point out an object cures area in the california code and so it was really david's idea that we have been plowing over the last eight years and i want to thank mr. mad way for that brilliant stroke we are the ones who make
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sense -- david you know the poorliment tree rules better than anyone. come to the mic afterwards so it can be recorded. >> thank you joovment elane knobs port staff and as david said this is putting the law in place and geek getting the mechanism to secure infrastructure financing proceeds and a lot of credit goes to bran son and many of my preed says cor and is monique moyer that has gotten us to this point and right now we are looking to the establish a policy with the board of supervisors that gives us a -- to support this before looking at any particular project. we have present proposed policy to the capital planning committee on november 19th and we will go
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back for action this month and we are looking to the bring the city policy to the board of interferes in early 2013 and so as brad said i'll go over the policy and then brad will go over three major projects that we are proposing the use of i f d for. and so the port commission is very well aware in 1969, we got our 54 piers nine react activated and we have an extraordinarily large deferred maintenance problem in the magnitude of $2.2 million and what the port earned as an enterprise is not enough to deal with the assets and the defined problems and so one of our major strategies that the port has initiated in the last decade is to find other source and is so
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we can be successful leveraging the important assets for the future and so this chart really shows all of the growth of all of these other source that are helping ut to solve our problems and the joe bonds that we just spoke of have been important for park improvementings and i s d which, is in the bright blue is a major proposal to help us build critical flay structure for areas that otherwise, we could not afford. and as a commission m o there is an exhibit a in here in your pact that provides much more detail and there is a lot of detail under pinning this expert aba 18 that allowed united states to take the value from the sea walls for the piers a b 1199 that is the pier 70 state chair
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which allows us to utilize it's city's share of i f d but the state's fair for pier 70 and trust sexual deflation and 330 and two recent pieces for america's cub a b-6 64 and a b two twoan 599 and brad is much better equipment to answer legislation on this and finances district proceeds are basically tax increpts that is baseline established and growth above that baseline of what pedestrian interest tax and so it's similar to increment financing and these are at the growth and tax of project's cause that otherwise go to the taxing entities pribblely the generally fund and we hold those proceeds to repay
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the investment and infrastructure. so no, to the proposed policy. there has been a long tradition both in the charter and in the burton act that the harbor fund is a self supporting the port is a self supporting enterprise and the city obviously, we pay for that was we purchase from the city and we want to maintain a balance so that the 50 city is not subsidizing the hash fund for our activities and the general services that we require from the city and so we have under taken a nexxus analysis in 2004 and eight that looks at the balance of payment and the next is the methodology that ports with long term leases where the tenants pay tax they pay ampleel tax to be provided these services like any other taxpayer and so the nexxus analysis
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looks at the unleased land and infrastructure on property and compares the cost of services to our work order bundle and that has shown in 2004 and 2,008 that we are in balance and so since our profile proposal something taking least lands and capturing taxes for city services we are looking to find a new way and methodology to make sure that the city is whole throughout the life of the prompt. it will -- imi'll take a bit more about that but we are looking to mayor sure hat city is net positive from the development project and that we can ensure that over title through a time of flex type of nexxus analysis: so we are proposing to perform an i f d property and establish areas encompassing each project site. consistent with i s d law, the
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i s d proceeds would be used for these list of uses here pierces piers and sea level rise and typewriterle remediation, hillic rehabilitation and port maritime. so, we are proposing this criteria for the city as it looks to see the request for i s d is a good purpose as minimum criteria. so, first, the proposed i f d would be on portland. if there is a case of annexing none portland it will be looked at on a case by case analysis and this would be eight washington or c well lot 851 is a good example of this type of situation where there is parcel and annexing into district and schedule is a adopting an
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infrastructure financing plan and it's a two step process that starts with inferring the district and then chem back with the infrastructure financing plan and actually specific the improvements from that district and priority improvements water front district, consistent with i f d in the investment would be consistent with the law obviously, the water front plan and our own capital plan and economic benefit we would always produce analysis for the policy makers that show the total tax revenues to the general opportunity fund and other economic development besides board of trustees and that way the city can review the position of general fund in making this contribution and where the state and city -- where there is state and city matching where we can -- secure the state chair for
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pier 70, we would make it a priority and the amount of allocated would be 65 clients and up to 90 cents in pier 70 and access incementation is the amount not needed from the district need today pate necessary infrastructure outside of the bonding period of 30 years so from year 30 to year 45 it would be up to policy makers to decide where to allocate those proceeds either back to the city's general fund or to improve the sea wall if the port issues revenue bonds, we would request that service coverage at this point we are not project proposing the issue gets for the disproment that i will describe in just a moment and we will as part of the i f d identifyfunding sowter for maintenance and this is an
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ongoing concern for the city is the cost of maintenance the pure cost of ownership is not always described up front and so this is an important point for the city. in terms of the port i f d formation, we are -- the city has through resolution done the infrastructure financing district staff city staff is developing the plans for each project area which will be separate appendixes and we are asking that the d p w and s f p review all of the horizontal extrusive proposal and is third party estimates that were very sure that she is shes have good very muchs prior to city action and we want the capital planning committee do this extrusive make recommendations to the full board for each i f d a pen
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appendix. now, obviously, this is an he is wees one to prove for the sale scale of these project and to leverage none city resource and is continue best practices of city participation. so, this is graphic just shows the a investment post the adoption of the water front land use plan and you can see there are seven scene million dollars of new value since 2,000 and that is for the exploretory and at&t park, pier one and disprawn if we have the crews terminal project for one 10 million or $827 million of investments since the adoption of the water front plan. the three project
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that weave i'll that brad will be talking about in a moment is at a much larger scale in these three proposed project and you will see as you look at the project that there is about 400 and $10 million of planned i f d proceeds for infrastructure costs in this project and so this policy is really going to attract huge -- a much larger amount of private investment than we have seen since the adoption of the private land units lan and to pay for critical city owned land use structure and with that, brad will talk you through the project. >> thank you elane. and we do think that this is potentially a game changer for the port. i want to make one minor correction. we have not calculated yet the amount of i f d ass that are captured in pier
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70 and it can be the location that we capture the tax increment and it could be that these projects will reach a billion dollars of investment from the i f d actual and that is 3 billion in private investment and you plus up to a billion dollar in public investment. each of the project the term sheets for these projects are expected to be -- by the port commission by 2013 and then off to the board of supervisors for term sheet consideration and possible endorsement and then each of the project would be subject to their own set of transaction document and is so these are
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proposals only just for the public's benefit. lot 337 and pier 48 in the port's exclusive negotiating agreement with sea wall lot sociabilities affiliated with the san francisco giant, this slide shows is that the area that we are conceiving of the certainty lot a in mission bay was previously a from the period between 1905 and fine 26 it started to be used for what he will use and that is one of the things that drove the filming along the san francisco water front. this is the film today and you will see it in yellow and it really stands out as one of the areas that needs attention in mission bay. as
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the as you heard so eloquently from david port staff isel contempt plating the develop of this park and the earn part of eastern part of city was cut off from bay access and so this is one of the a pennities that we strive to provide and so this development is contemporary plating 3.5 million square feet of mixed use development and unto a thousand unit of residential and up to one .7 million square feet of commercial office space with ground floor retail and approximately 2800 to 3,000 parking spaces with over 8pm acres of parking space and the proposed plan to to be flexible
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and this is a phase development that will happen as early as 20 scene, 207 in the initial phase and it's hard to tell now what the right mix of office vs. residential is so the zone something proposed to be flexible to respond to different market conditions. this china basin park proposals is one of the reasons why the giants the sea well lot 337 llc., proposal is receiving such positive tension it's because of the attention they have given to the design of this water front open space. it would be 5-acres the costs are high. we are looking at entirely newue tillity infrastructure new streets, sidewalks sidewalks and park locate and is improvements to pier 48 currently estimates at over $2 million in current
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$2,012 and this infrastructure is really needed to unlock the value of this site for the port and for development. very significant this would be an entirely new city neighborhood with significant economic development for the city as a whole and 5,000 construction jobs and over 7,000 permanent jobs on the site and 10,000 jobs regionally with up to 2,000 new residents so erail mentioned the fiscal analysis that we would do through fiscal feasiblable report to the board of supervisors prior to environmental review and the draft fiscal feasiblability for this probability indicates a 9 million-dollar tax benefit to the city after the cost of the city services and this is after
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netting out the property tax increment that we would capture through the i f b and so this is really coming from gross receipts tax and sales tax and other tacks that would continue to flow to the general fund. and elane mentioned the idea of excess tax increments and after the project needs are paid there is up to one $.6 billion paid in excess taxes generated from this site. pier 70 is a bit more complicated in that it's divided into a number of districts and a master plan starting in 2,007 and the commission chose to let out pourings of this site in sort-of a segmented manner and the water personal property site is the site under contract for a city development or in development is managing the rehabilitation of the historic
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buildings along 20th street, we have our ship repair under least and you have heard david talk about cran copark. four city's this the process of doing due diligence for the property right now and they are concerned that it's sea level rise and the city's team will be consulting with the chief hash engine here about raising the grade of this site so it's not subject to innonedation in the future. very interesting engineering constraints at pier 70 there were slip ways built by the federal government to facility ship repairs and it's difficult to buildbled on those and that is blue line that you see here and that is demarks the only shore line and everything bay ward from that line requires pile support and there is a risk
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of lateral spread and major earthquake and to there is a need to reinforce the shore line so it doesn't slough off in the bay and an earthquake. and these are the water lines that are out of the known water lines that are out of the site and for city proposes to install entirely new water infrastructure at the site and the same goes for waist water form water facilities and all of it needs to be relace and had they are looking at one $56 million of at the moment infrastructure cost and is potentially an additional $90 million for historic rehabilitation costs at the site and so finally, the warriors
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project in piers 30 and 32 and a lot of it -- in the public eye and the site is currently-15 -acre and the pier is near it is end of life and we have some road restriction on the site and limiting use and if we were just to contemporary plate we moving this, it would cost $45 million. and the warriors have hired a team of a commons who have gone to produce conceptual design for this site and they are looking at multipurpose venues for basket ball games, public concerts, convention use, with 60% of the site dedicate to open space and a combination of retail uses and practice courts and parking covering the rest
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of the site and this is the concept of what it would look like and this is being published in the paper and so the major a major terms is that the ports would finances these improvements and they would look up to 120 million here with a 13% of capital and the city would repay that private investment and publicly owned pier through rim credit and the price of c o l lot 33 and that is an increment from an i f d and those would be the soles and again, almost a billion dollar on it's own and generates more than 2500 construction jobs and 1700 jobs with great fiscal board of trustees to the city of posh 19.4 million in total tax receipts.
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so that conclude the presentation as we are scheduled go back to the committee to seek a vote on this policy later in december, the plan if the commission has no other changes that we should contemporary plate and incorporate in the policy would be to then bring the policy to the board of supervisors for a vote by the board and we think at the staff level it's very important for the capital planning committee and the board of supervisors to establish this before the individual projects propose the i f d and so that concludes our presentation any questions we are available to answer them. >> is there any public comment on this item? seeing none ... thank you for all of the work that has gone into this and for explaining what one of the very difficult
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concepts so well and so thank you, i think it's a creative pyo to us given who has happened in terms of porn funding option for this prolong and so i just want to say thank you and looking forward to see iting as it shapes up. i'm very ri happy that you report and very re34 row and effort you come up here you make it simple and it's very complex and i'm understanding it and so i appreciate you making it simple so we can grass it so thanks. >> items four a requests to execute an amendment to the actech tour and to the joint vek tune of b as architect and follow along architecture in association with bar knell low and to increase the amount of


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